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nevsk [136]
3 years ago
10

The 1973 recession was caused by higher oil prices that shifted ______________ and caused inflation to ___________ and unemploym

ent to __________.
1. SRAS up/left, increase, increase
2. SRAS down/right, increase, increase
3. SRAS up/left, decrease, decrease
4. AD left, increase, decrease
History
1 answer:
iVinArrow [24]3 years ago
4 0

Answer:

The correct answer is 2. The 1973 recession was caused by higher oil prices that shifted short run aggregate supply down and caused inflation to increase and unemployment to increase.

Explanation:

The 1973 recession was caused by the 1973 oil crisis, that broke out as a result of the Yom Kippur War.

During and after the Yom Kippur War, the Arab members of OPEC, plus Egypt and Syria, tried to force the United States and its allies to stop supporting Israel, which had fought against Arab nations in several wars. To end the oil crisis, the United States threatened the Arab countries and the Soviet Union, which often assisted them, with stopping grain supplies. At about the same time, OPEC decided on drastic oil price increases.

The oil crisis slowed down economic growth, accelerated inflation, triggered the economic downturn, and caused recession in some countries including America. The United States responded to the lessons of the energy crisis by issuing permits for the construction of nuclear power plants and today, as a result, almost 80% of electricity is generated by nuclear power.

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Question 1:

Las Casas argued against those who believed that Indians were a primitive race, and as such needed to be subjugated by force for their own good. This was the view of scholars like Sepulveda. Las Casas, however, argued that the development of Indian people was parallel to that of many major cultures around the world. He claims that:

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Question 2:

Las Casas’ ethical arguments were also powerful. He argued that Indians were children of God, and should be treated as such. He also claimed that they were good at heart; with good feelings and not deceitful. Therefore, they had the right to be taught the doctrine of God as any other good person would.

He also argued that Indians were made by God. Everything they were was intended by God, and he gave them their resources for them to use them as well as they could. They used them in a particular way, but were intelligent enough to be taught better ways.


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